JSW Energy On Track To Achieve 20 GW Capacity Target Ahead Of 2030, Says CEO

JSW Energy Ltd. is on track to achieve its target of having a 20 gigawatt capacity, ahead of the 2030 deadline due to ramp up in projects, the company’s Joint Managing Director and Chief Executive Officer Sharad Mahendra said.

Mahendra told NDTV Profit that the current cash balance gives the company an edge for completing the ongoing projects.

“This gives us a lot of cushion to accelerate our growth and execute the order pipeline that we have in hand,” he said.

He added that with the current cash balance the company will have a lot of headroom to complete the projects at hand.

“We are on track, and with the cash balance and ratios we have, there is a comfortable headroom to ramp up our growth and execute these projects beforehand,” the top executive noted.

In its financial results for the quarter ended September, JSW Energy Ltd. noted that its liquidity remains strong with a cash balance of Rs 5,719 crore as on Sept. 30, 2024.

With the strong liquidity position, JSW Energy will reach its capacity targets sooner than anticipated, according to Mahendra.

“The timeline we had given for 20 GW by 2030—with our current order pipeline and our balance sheet—we will be reaching this target significantly earlier,” he said.

The company had earlier projected a capex of nearly Rs 15,000 crore for the current financial year.

“As we have guided in the beginning of this financial year, we expect the current year’s capex to be close to Rs 15,000 crore, out of which Rs 3,700 crore has been executed in H1,” Mahendra explained.

For the balance, the construction work is in progress to reach 10 GW capacity, he said. "To reach this, we will be investing another Rs 4,700 crore to Rs 4,800 crore. The balance of the debt of Rs 15,000 crore will be for a few projects that we signed recently and the work has started."

JSW Energy is also on track to complete its target of reaching 10 GW capacity by fiscal 2025, the CEO said.

“We are absolutely on track regarding this and in the next two quarters—Q3 and Q4—we are absolutely confident that we will be reaching the 10 GW number from the current level of 7.8 GW and almost 7.9 GW operational capacity,” he reassured.

Shares of JSW Energy Ltd. on Friday tanked as much as 4.4% to an intraday low of Rs 641.65 apiece on the NSE. The stock was trading at Rs 662 per share, down 1.34%, on the NSE at 2:58 p.m., compared to a 1.02% slide in benchmark Nifty 50 at 24,151.6.